How Will APAC Automotive Decorative Exterior Trim Market Perform Over 2017-2024?

The last few years have seen the automotive sector emerge as one of the most revolutionizing business spaces of all times. The global automotive decorative exterior trim market has received a commendable boost accounting to the same. The expanding automobile sales can be aptly credited to the fact that automobiles have evolved from being a mere mode of transportation to being a status symbol.

Right from the color of the car to the appealing exterior aesthetics, everything about the automobile not only creates a distinct image, but also determines the vehicle present as well as the future value. One of the fundamental factors that has vividly fueled the industry expansion is the changing consumer preferences which has given a rise to the massive sales of luxury cars like BMW, Mercedes, and others.

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Additionally, the inclusion of light weight plastic components to enhance the performance and efficiency of the vehicle is likely to stimulate the global automotive decorative exterior trim market expansion during 2017-2024. In line with this, the growing environment concerns would further complement the automotive decorative exterior trim industry size, enabling it to cross USD 27 billion by the end of 2024.

The worldwide automotive decorative exterior trim industry is also driven by the ongoing innovations in the industry that has prompted the manufacturers, like Takata, CIE Automotive, Dura Automotive Systems, and multiple others to cut money and time in the production of various components. These innovations would supposedly induce tremendous potential to the market over the next few years.

How would the large-scale adoption of light commercial vehicles transform the growth trajectory of the global automotive decorative exterior trim market over the forecast period?

Automotive decorative exterior trim market from the light commercial vehicles segment is likely to garner a CAGR of over 3.5 per cent through 2024. This growth can be attributed to the increasing product usage across the global masses.

Furthermore, the inclining focus of manufacturers towards the use of plastic in production of the trims for these vehicles would bolster the product penetration. The use of wide variety of plastics to reduce the overall weight of the vehicle would further drive the product demand.

Meanwhile, the market size from the passenger commercial vehicles is also expected to surpass nearly 430 kilo tons over 2017-2024 owing to the expediting PCV production globally.

What are the factors potentially influencing the around lamp decorative exterior trim segment of the global market?

The global automotive decorative exterior trim industry is characterized by a vast application gamut of which the around lamp segment is anticipated to produce hefty proceeds over the stipulated timeframe. This growth is attributable to the high end use of the product on the grounds of enhancing the aesthetics and offering a superior fit to the auto part.

Estimates claim that the around lamps segment is probable to be valued at USD 9 billion by the end of 2024.

On the other hand, the windows applications segment would register a growth rate of 4 per cent over 2017 to 2024 perhaps attributing to the feasibility of exterior trims in vivid shapes and sizes.

Do OEMs really stand as a pivotal distribution channel for the automotive decorative exterior trim market?

Considering the distribution channels, the OEM channels are expected to leverage huge profits for the global automotive decorative exterior trim industry in the upcoming years. Apparently, they would account to over 70 per cent of the revenue share of the overall market. This can be aptly credited to the adoption of collaborative processes and umpteen innovative techniques associated with the product designing and production.

In addition to this, the industry collaborations with the vehicle repairing centers would simultaneously drive the product growth in the near future.

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How will the APAC automotive decorative exterior trim market perform in the due course of eight years?

Speaking in terms of the geographical landscape, Asia Pacific is portrayed to stand tall in the regional hierarchy of automotive decorative exterior trim industry. It is prudent to mention that the region is likely to be valued at over USD 11 billion by 2024. This significant growth is attributable to the progressive automobile production across the region which has seen China and India substantially contributing to the revenue generation.

The high economic affluence is also supporting the region’s dominance in the automotive decorative exterior trim market.

The Europe region would also exhibit a CAGR of 3 per cent through 2024 on account of growing demands for premium luxury cars across the developed European countries.

Table of Contents (ToC) of the report:

Chapter 1 Methodology & Scope
1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry Insights and validation
1.1.4 Definitions, assumptions & forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary

Chapter 2 Executive Summary
2.1 Automotive decorative exterior trim industry 3600 synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Application trends
2.1.3 Vehicle trends
2.1.4 Distribution channel trends
2.1.5 Regional trends

Chapter 3 Automotive Decorative Exterior Trim Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013- 2024
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Manufacturers
3.3.3 Profit margin trends
3.3.4 Distribution channel analysis
3.3.4.1 B2B
3.3.4.2 B2C
3.3.4.3 Aftermarket
3.3.5 Vendor matrix

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